CFD Trading – Buy OCBC Bank (O39.SGX) @ $12.50. Stop @ $12.28 and Target @ $12.90.

OCBC Bank Stock Code 039.SGX

Outlook

Price, after reaching a high at 12.90 on 20 April 2023, went into a correction. The correction was supported by the Base line and the upper edge of the cloud, keeping the bullish price trend intact. Conversion line and Base line remain in a bullish crossover and is hinting at a bullish price trend.  Lagging Span is above price of 26 days ago but is below the cloud at the moment.  MACD is above the zero line and is hinting at a bullish price trend. If price is able to stay above the cloud, it could be heading towards the previous resistance high at $12.90 in the next 2-3 weeks.

Strategy                  

$12.50                Buy

$12.90                Price Target

$12.28                Risk Management Stop

3 weeks              Trade Duration

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